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Microeconomics,The branch of economics that analyzes the market behavior of individual consumers and firms in an attempt to understand the decision-making process of firms and households. It is concerned with the interaction between individual buyers and sellers and the factors that influence the choices made by buyers and sellers. In particular, microeconomics focuses on patterns of supply and demand and the determination of price and output in individual markets (e.g. coffee industry).

The field of economics is broken down into two distinct areas of study: microeconomics and macroeconomics. Microeconomics looks at the smaller picture and focuses more on basic theories of supply and demand and how individual businesses decide how much of something to produce and how much to charge for it. People who have any desire to start their own business or who want to learn the rationale behind the pricing of particular products and services would be more interested in this area.

Macroeconomics,on the other hand, looks at the big picture (hence "macro"). It focuses on the national economy as a whole and provides a basic knowledge of how things work in the business world. For example, people who study this branch of economics would be able to interpret the latest Gross Domestic Product figures or explain why a 6% rate of unemployment is not necessarily a bad thing. Thus, for an overall perspective of how the entire economy works, you need to have an understanding of economics at both the micro and macro levels.

The field of economics that studies the behavior of the aggregate economy. Macroeconomics examines economy-wide phenomena such as changes in unemployment, national income, rate of growth, gross domestic product, inflation and price levels.

Macroeconomics is focused on the movement and trends in the economy as a whole, while in microeconomics the focus is placed on factors that affect the decisions made by firms and individuals. The factors that are studied by macro and micro will often influence each other, such as the current level of unemployment in the economy as a whole will affect the supply of workers which an oil company can hire from, for example.

Difference:

Macro- and microeconomics, and their wide array of underlying concepts, have been the subject of a great deal of writings. The field of study is vast; here is a brief summary of what each covers:

Microeconomics is the study of decisions that people and businesses make regarding the allocation of resources and prices of goods and services. This means also taking into account taxes and regulations created by governments. Microeconomics focuses on supply and demand and other forces that determine the price levels seen in the economy. For example, microeconomics would look at how a specific company could maximize it's production and capacity so it could lower prices and better compete in its industry. (Find out more about microeconomics in Understanding Microeconomics.)

Macroeconomics, on the other hand, is the field of economics that studies the behavior of the economy as a whole and not just on specific companies, but entire industries and economies. This looks at economy-wide phenomena, such as Gross National Product (GDP) and how it is affected by changes in unemployment, national income, rate of growth, and price levels. For example, macroeconomics would look at how an increase/decrease in net exports would affect a nation's capital account or how GDP would be affected by unemployment rate. (To keep reading on this subject, see Macroeconomic Analysis.)

While these two studies of economics appear to be different, they are actually interdependent and complement one another since there are many overlapping issues between the two fields. For example, increased inflation (macro effect) would cause the price of raw materials to increase for companies and in turn affect the end product's price charged to the public.

The bottom line is that microeconomics takes a bottoms-up approach to analyzing the economy while macroeconomics takes a top-down approach. Regardless, both micro- and macroeconomics provide fundamental tools for any finance professional and should be studied together in order to fully understand how companies operate and earn revenues and thus, how an entire economy is managed and sustained.

management information system or management information services, and pronounced as separate letters, MIS refers broadly to a computer-based system that provides managers with the tools for organizing, evaluating and efficiently running their departments. In order to provide past, present and prediction information, an MIS can include software that helps in decision making, data resources such as databases, the hardware resources of a system, decision support systems, people management and project management applications, and any computerized processes that enable the department to run efficiently.

Within companies and large organizations, the department responsible for computer systems is sometimes called the MIS department. Other names for MIS include IS (Information Services) and IT (Information Technology).

1. Get Clean Skin QuickTo sop up oil and refresh makeup, lightly mist your face with toner, then pat with a tissue, says Eva Scrivo, makeup artist and owner of the eponymous New York City salon. Finish with a dusting of loose powder.

3. Hydrate Your Skin in Half the TimeUse conditioner to moisturize your hair -- and body, says Schick. Just massage it in neck-to-toe in the shower, rinse and dry off. The conditioner will hydrate nearly as well as body lotion -- without the time suck of waiting for it to sink in.

4. Get Gorgeous Nails -- NowSchick's 60-second strategy: Remove all polish, clean under your nails (with lemon juice, if you have it) and massage the thickest lotion you can find (lip balm will suffice in a pinch) into your cuticles.

5. Use Pink to Fake Perfect SkinSurprise! Concealer is only half the battle when it comes to fixing flaws. To really perfect your complexion (no matter what your skin tone), try wearing lipstick in a warm pink. "It distracts people's eyes from blemishes and other imperfections," says Schick.

6. Depuff Your 'Do in a FlashTo flatten frizz, dampen your hands with water and a drop of hand lotion, then gently pull your hair back into a French twist. Wait 10 minutes; take your strands down. Voilà -- fuzz free!

7. Focus on the Front to Speed HairstylingWhen you're strapped for time, do the T-zone blow-dry: down your part and around your hairline only. "As long as the front and top of your hair looks finished," says Scrivo, "so will you."

8. Score Evening Eyes in Just One StepEyeliner is the fastest way to look sexy, says Delux Beauty creator Jillian Dempsey. To do: Trace your top lash lines to just past the outer corners of your eyes.

9. Pull It Together with a PonytailThere's nothing wrong with resorting to a ponytail -- after all, it's the ultimate easy style. To do: Pull your hair back haphazardly with your fingers and spritz with hairspray, says Roy Teeluck, owner of the Roy Teeluck Salon in New York City. Last, twist a stray tendril around your hair elastic; pin.

“Marketing may be defined as a set of human activities directed at facilitating and consummating exchanges”

Which definition is right? In short, they all are. They all try to embody the essence of marketing:

• Marketing is about meeting the needs and wants of customers;• Marketing is a business-wide function – it is not something that operates alone from other business activities;• Marketing is about understanding customers and finding ways to provide products or services which customers demand

To help put things into context, you may find it helpful to often refer to the following diagram which summarises the key elements of marketing and their relationships: